|

WHO: Total Coronavirus cases In China now at 77,362, new cases rose 416 over the last 24 hours

Total Coronavirus cases in China now at 77,362, new cases rose 416 over the last 24 hours.

The coronavirus global cases total reaches over 79,000 now with the death toll has reached 2,620, with 27 of those occurring outside of China. The expansion of outbreaks in South Korea and Italy have brought about fears of a global pandemic and has caused a risk-off start to the week.

People in northern Italy have been in touch with the Guardian to say they have noticed empty shelves in local supermarkets.

The Guardian wrote that Francesco Sole, a trade union regional secretary from Milan, said prices for face masks and antibacterial gel had skyrocketed.

“It’s quite a shock for us in northern Italy. My wife and I rushed to do some grocery shopping in fear of being stuck at home.

“Empty shelves for basic products such as flour, oil and bottled water were easily noticeable,” he said. “Finding a mask or antibacterial gel has become as challenging as finding water on the moon.

“Some companies have organised their workers to switch to smart working while many others are still seeking to find solutions to manage the situation. People in Milan are trying to figure out what life will be like in the days to come. For a city that is always on the move, this is an eerie pause.”

In other news, tor the first time in decades, the National People’s Congress (NPC), where hundreds of delegates gather in Beijing every March, was postponed on Monday. The standing committee for the NPC said a new date for the meeting would be announced separately, according to the state broadcaster CCTV.

South Korean cases spiked to over 760, as several countries imposed travel bans, and some airlines cancelled routes to Seoul. Afghanistan, Bahrain, Kuwait and Iraq reported their first cases – all involving people who had come from Iran.

On the bright side, the WHO team in China has concluded the virus can be contained, noting that it peaked between the end of January and the beginning of February:

Author

Ross J Burland

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

More from Ross J Burland
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD holds steady near 1.1750 on first trading day of 2026

EUR/USD stays calm on Friday and trades in a narrow channel at around 1.1750 as trading conditions remain thin following the New Year holiday and ahead of the weekend. The economic calendar will not feature any high-impact data releases.

GBP/USD struggles to gain traction, stabilizes above 1.3450

After testing 1.3400 on the last day of 2025, GBP/USD managed to stage a rebound. Nevertheless, the pair finds it difficult to gather momentum and moves sideways above 1.3450 as market participants remain in holiday mood.

Gold climbs toward $4,400 following deep correction

Gold reverses its direction and advances toward $4,400 after suffering heavy losses amid profit-taking before the New Year holiday. Growing expectations for a dovish Fed policy and persistent geopolitical risks seem to be helping XAU/USD stretch higher.

Cardano gains early New Year momentum, bulls target falling wedge breakout

Cardano kicks off the New Year on a positive note and is extending gains, trading above $0.36 at the time of writing on Friday. Improving on-chain and derivatives data point to growing bullish interest, while the technical outlook keeps an upside breakout in focus.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).